Mexican peso appreciates after Macron victoryBy Elliot Bullman
The Mexican peso appreciated Sunday in international operations after the triumph of former banker Emmanuel Macron in the presidential elections in France.
Macron, who has a pro vision of European integration, defeated Marine Le Pen, an extreme right-wing nationalist who threatened to pull the country out of the European Union and whose advance in polls prior to the first round of elections last month had caused nervousness in the markets.
Although investors were already hoping for Macron's win against Le Pen, they were relieved by the wide margin of the ex-soldier and pro-European in front of the far-right candidate.
The Mexican peso celebrated the victory of the ex-banker Emmanuel Macron in the presidential elections of France, by defeating the right-wing candidate Marine Le Pen by a wide margin. The peso traded at 18,915 per dollar, up 0.46 percent, compared to 19,0025 pesos from Friday's benchmark Reuters price.
The Mexican peso finished last week strong having taken advantage of the weakness of the dollar in the international market. Encouraging news regarding the US unemployment rate falling unexpectedly to 4.4 percent in April also helped the peso.
Looking ahead this week the Mexican peso's upside potential could be further boosted by the shifting views of Trump and top officials of his administration over the upcoming North American Free Trade Agreement (NAFTA) negotiations.
- Record payday for the world's elite in the Confederations Cup 2017
- The cars that Mexicans are going crazy for
- Mexico's beach hotels expect a record summer
- Tesla is now more valuable than BMW
- Merida declares Uber as a "pirate" transport service
- To create more companies, there has to be less paperwork
- Merkel invites Mexico to be creative in digital production
- Mexico registers surprise April trade surplus and historical flow of remittances
- US and Mexico Reach Agreement over Sugar Dispute
- Markets, with strong reaction after election in Edomex
- Cancun and Riviera Maya scrutinized by Chinese entrepreneurs
- Japanese Population Grows 400% in Guanajuato